The New Zealand dollar rose slightly against its US counterpart as the New Zealand economy slowly recovers from its previous recession. The currency slipped against its Australian counterpart.
The economy of New Zealand was hurt by the earthquake in Christchurch region last year, as well as the global recession earlier, and now attempts to recover, benefiting from rising commodity prices. Alan Bollard, the Governor of the Reserve Bank of New Zealand, said: “We expect the recovery to pick up and gradually become more secure”, supporting the confidence in the economy and the currency of New Zealand.
NZD/USD rose 0.7693 to 0.7710 as of 13:23 GMT and reached its intraday high of 0.7741 today. AUD/NZD rallied from 1.2852 to 1.2904 after it slumped last week.
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